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Friday, October 07, 2016 Derek Macpherson

Aston Bay's Initial Drill Results Encouraging


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Aston Bay (TSXV:BAY) has provided the first drill results from its 2016 summer field program at its Storm Copper project on Somerset Island in Nunavut. The results were highlighted by 16m at 3.07% Cu and 12.26 g/t Ag (STOR1601D). These are only the first 3 holes from this summer’s 12 hole program (1,951m). The company also completed additional soil sampling over a larger area (120km by 20-40km) collecting 2,005 soil samples and completed additional geophysical surveys, including borehole EM. In our view these results are positive and have advanced the project. Consequently, we expect that BHP Billiton Ltd. (BHP) to increase spending in the 2017 field season.


Initial drill results from the Storm Copper project are encouraging. BHP is taking a systematic approach to exploring the Storm Copper deposit, with this year’s small drilling program focused on testing both geophysical and structural targets. While results were mixed, only three holes had visible copper mineralization, and only one with exceptional grades and width, overall the results of the program appear to have advanced both Aston Bay’s and BHP’s knowledge of the project. Of particular interest was hole STOR1601D which appears to have extended the 4100N zone 225m east and 100m north. As a result, we expect BHP to continue exploring the project in the next field season (2017) and are very likely to spend more than the C$4 million spent this summer.

Company Description: Aston Bay Holdings Ltd. (TSXV: BAY) is a mineral exploration company focused on the 976,066-acre (395,000-hectare) Aston Bay property located on northwest Somerset Island, Nunavut. The Aston Bay Property hosts the Storm Copper project and has been optioned by BHP Billiton, who can earn 75% of the project by spending C$40 million over 9 years. Historical drilling has confirmed the presence of sediment-hosted copper and zinc mineralization on the property.

Derek Macpherson | VP Mining Analysis
Sunneva Bernhardsdottir | Associate, Mining Analysis
Victoria Ellis Hayes | Associate
 
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